Years ago, clients needed a realtor to find housing. It was nearly impossible to do so without that guidance. These days, that main role of finding houses is disappearing as technology empowers clients with more tools… Which is great, we love empowerment, but it’s to the point where people place more trust in tools, like Zillow, than in the agents. How can real estate professionals regain more leverage? LISTEN UP.
The real estate game is changing - screw that - it already has and no-one is REALLY talking about it....until now. In this bi-weekly podcast we break down the massive shifts in real estate and tell you the specific steps you need to take to kick a$$ in the coming years, just like we are. We’re your hosts, Edgardo Balentine and Scott DiGregorio, giving you the rundown on real estate from decades of experience and the new generation.
Zillow rebranded itself from Zillow Group to Zillow Home, which brings the company under the umbrella of a national brokerage. Zillow is the go-to place for both clients and some agents, since the technology increased efficiency over the years. Zillow is even in the process of developing access to the MLS through their site. If the realtor doesn’t genuinely control the data anymore, and the MLS loses its value, what does that turn the industry into?
In this episode, we’ll discuss how to incorporate technology into real estate operations, whether using Zillow or Zoom. If you’re not tapping into digital platforms, think of how many transaction opportunities are being LOST. If you don’t supply certain digital capabilities, the lack of accessibility blocks new clients and transactions. Know when to leverage tools to match the morphing expectations of the currently rising generation.
Reassure people, and learn to use your words eloquently to address objections people have. We’ll show you the way we learned to efficiently present things. If you take these pieces of information, and make them your own, you’ll expedite your performance in the industry. Conduct business in a way that aligns with people’s expectations, needs, and wants.
What are you doing today to be relevant tomorrow? What are you doing today to be successful tomorrow?
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Time stamps:[00:36] - Today, let’s talk about Zillow bringing themselves under the umbrella of a national brokerage.
[2:30] - Why does the public assume that Zillow is more accurate than agents?
[04:37] - Let’s explain the influence of the zestimate by mentioning how he incorporated the information in his own experience.
[07:18] - Looking at this situation, the role of realtors is changing alongside the democratization of the MLS.
[08:51] - What are the power dynamics shifting between Zillow and realtors?
[10:57] - There was push back digital and video, yet that’s changing with the new expectations.
[13:47] - Technology contains a certain amount of leverage to create best practices to get the most interactions with clients.
[15:28] - How can people adapt and explore new strategies within the new format taking over the industry? Start getting curious immediately.
[16:58] - If not tapping into digital platforms, how many transaction opportunities are being lost?
[19:33] - Technology is a necessity. How can you make sure it amplifies your practices?
[21:31] - Start tailoring business operations to match the era. Some procedures are no longer needed, and simply waste resources.
[24:24] - Median prices going up are a result of differences between the lower and higher ends of the market.
[25:50] - How is equity the secret answer? Let’s take a look back at 2005 for a reference.
[28:47] - The housing market structure is opposite of the significant circumstances that led to the previous market crash.
[30:52] - Pay attention to the trends in the economy and circumstances. Learn to communicate and show proper knowledge of the industry.
[32:31] - Consumers are playing it safe , and looking for reassurance to do what needs to be done.
[33:56] - Housing is a product you should believe in now. The stars are aligning.
[35:15] - Understand the balance of pricing and wages in the market.
[37:37] - This incident led to down payments on a house being less than paying first, last, and security on renting an apartment. How did this happen?
[39:14] - Gain rapport by speaking to the concerns of clients.
[40:57] - You will capitalize on this opportunity, or you will spend decades talking about how you wish you capitalized on this opportunity.
Links:
Real Estate of Tomorrow
Edgardo Balentine
Scott DiGregorio